The stock last traded at $15.94 which is just a bit higher than the 50 day moving average of $15.00 and which is quite a bit above the 200 day moving average of $13.02. The 50 day moving average was up $0.94 and the 200 day average went up $2.92 or +22.41%. Trading volume for Chegg, Inc. was 9,853 in the last trading session. Volume was down 97.85% under the stocks average daily volume.
Investors are feeling more bullish on the company if you look at the change in short interest. The stock recorded a fall in short interest between September 15, 2017 and September 29, 2017 of -1.24%. Short interest fell from 23,610,508 to 23,318,255 over that timeframe. With short interest at 23,318,255 and short average daily volume at 779,782, the short-interest ratio is 30.0 and the percentage of shorted shares is 0.25% as of September 29.
Chegg, Inc. (NYSE:CHGG) has been the object of insider selling activity recently. Charles Geiger, CHIEF PRODUCT OFFICER disclosed the sale of 56,970 shares of CHGG stock. The shares were sold on October 2nd for an average price of $14.96. The CHIEF PRODUCT OFFICER now owns $7,652,040 of the stock per the Form 4 SEC filing. Dave Jr. Borders, GENERAL COUNSEL sold $199,635 worth of shares at an average price of $15.06 on October 2nd. That brings Borders’s holdings to $6,484,143 as recorded in a recent Form 4 SEC filing.
CHIEF PRODUCT OFFICER Charles Geiger sold 50,000 shares at an average price of $14.53 on Fri the 15th. That brings the CHIEF PRODUCT OFFICER’s holdings to $7,432,095 as reported to the SEC.
These firms have modified their investment in CHGG. As of quarter end Engineers Gate Manager Lp had bought a total of 120,214 shares growing its stake by 302.1%. The value of the investment in (CHGG) went from $336,000 to $1,966,000 increasing 485.1% for the reporting period. Acadian Asset Management LLC cut its position by shedding 597,758 shares a decrease of 89.4%. Acadian Asset Management LLC now holds 70,814 shares worth $1,052,000. The value of the position overall is down by 87.2%.
As of the end of the quarter Cutler Group LP had acquired 1,750 shares growing its position 125.0%. The value of the investment in Chegg, Inc. increased from $0 to $46,000 a change of inf% quarter over quarter. Hamilton Lane Advisors LLC reduced its ownership by selling 145,000 shares a decrease of 71.8% as of 09/30/2017. Hamilton Lane Advisors LLC owns 57,003 shares valued at $846,000. The total value of its holdings decreased 65.9%.
July 26 investment analysts at BMO Capital made no change to the stock rating of “Outperform” but raised the price target from $10.00 to $18.00.
In the latest earnings report the EPS was $-0.32 and is expected to be $0.23 for the current year with 96,009,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.12 with next year’s EPS projected to be $0.42.
Chegg, Inc., launched on July 29, 2005, is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. It also offers eTextbooks library for rent and sale. The Company also has live tutors on its connected learning platform available to students online, anytime, anywhere through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job..